Just back from an unplanned urgent trip - c'est la vie.
The market sure has been whippy, pulled in opposing directions every time there were "fresh" old news in the market just about every other day. In the daily charts, the short term directional indicators are doodling around the 50%, cris-crossing each other everyday.
The medium term trending indicators have managed to recover into the positive territory albeit, still below the parity line.
It will be nice if it manages to overcome and close above the parity line. That will definitely add a new scope and dimension than the current boxed range.
The long term directional indicators have gone into remission and it will be at least a week and a half before a new direction will emerge at the earliest.
The momentum/volatility indicators are holding around the 30% mark with a slight upward bias.
It will be particularly good if it manages to run to 1300 and close above that and the indicators will have revved up to at least 50% mark and good enough for runs above there with more sustaining power.
Interim supports are at 1236, 1228 & 1221 with minor supports at 1226.10, 1218.40 & 1208.80.
Interim resistances are at 1243.50, 1257.50 & 1265 with minor resistances at 1251.70, 1268.30 & 1272.70.
The daily/weekly trend changer points are at 1208.15/1164.80 with the daily point freshly overturned earlier in the week.
Get Gold Trading Chat (Android), excerpts from there
The market sure has been whippy, pulled in opposing directions every time there were "fresh" old news in the market just about every other day. In the daily charts, the short term directional indicators are doodling around the 50%, cris-crossing each other everyday.
The medium term trending indicators have managed to recover into the positive territory albeit, still below the parity line.
It will be nice if it manages to overcome and close above the parity line. That will definitely add a new scope and dimension than the current boxed range.
The long term directional indicators have gone into remission and it will be at least a week and a half before a new direction will emerge at the earliest.
The momentum/volatility indicators are holding around the 30% mark with a slight upward bias.
It will be particularly good if it manages to run to 1300 and close above that and the indicators will have revved up to at least 50% mark and good enough for runs above there with more sustaining power.
Interim supports are at 1236, 1228 & 1221 with minor supports at 1226.10, 1218.40 & 1208.80.
Interim resistances are at 1243.50, 1257.50 & 1265 with minor resistances at 1251.70, 1268.30 & 1272.70.
The daily/weekly trend changer points are at 1208.15/1164.80 with the daily point freshly overturned earlier in the week.
Get Gold Trading Chat (Android), excerpts from there
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